Edgestream Partners L.P. Sells 94,791 Shares of NeoGenomics, Inc. (NASDAQ:NEO)

Edgestream Partners L.P. trimmed its position in NeoGenomics, Inc. (NASDAQ:NEO) by 73.1% during the third quarter, Holdings Channel reports. The firm owned 34,798 shares of the medical research company’s stock after selling 94,791 shares during the quarter. Edgestream Partners L.P.’s holdings in NeoGenomics were worth $513,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of NEO. Jennison Associates LLC raised its stake in NeoGenomics by 4.7% in the third quarter. Jennison Associates LLC now owns 1,276,468 shares of the medical research company’s stock valued at $18,828,000 after buying an additional 57,041 shares during the period. First Light Asset Management LLC increased its holdings in shares of NeoGenomics by 14.5% during the 2nd quarter. First Light Asset Management LLC now owns 3,782,561 shares of the medical research company’s stock worth $52,464,000 after acquiring an additional 480,396 shares during the last quarter. Blue Trust Inc. raised its stake in NeoGenomics by 42.3% in the 3rd quarter. Blue Trust Inc. now owns 3,318 shares of the medical research company’s stock valued at $46,000 after acquiring an additional 987 shares during the period. Sei Investments Co. lifted its holdings in NeoGenomics by 152.6% during the 2nd quarter. Sei Investments Co. now owns 263,761 shares of the medical research company’s stock valued at $3,658,000 after purchasing an additional 159,350 shares during the last quarter. Finally, Algert Global LLC boosted its position in NeoGenomics by 204.3% during the third quarter. Algert Global LLC now owns 79,983 shares of the medical research company’s stock worth $1,180,000 after purchasing an additional 53,700 shares during the period. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NEO. Needham & Company LLC reissued a “buy” rating and issued a $19.00 price objective on shares of NeoGenomics in a research report on Wednesday, November 6th. Benchmark restated a “buy” rating and set a $18.00 price objective on shares of NeoGenomics in a research report on Tuesday, September 24th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $20.25.

NeoGenomics Stock Performance

NASDAQ NEO opened at $17.19 on Friday. The firm has a 50-day moving average price of $14.94 and a two-hundred day moving average price of $14.98. NeoGenomics, Inc. has a 12-month low of $12.77 and a 12-month high of $21.22. The company has a market capitalization of $2.21 billion, a P/E ratio of -28.18 and a beta of 1.24. The company has a quick ratio of 1.91, a current ratio of 1.99 and a debt-to-equity ratio of 0.37.

NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings results on Tuesday, November 5th. The medical research company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.04. NeoGenomics had a negative return on equity of 2.11% and a negative net margin of 12.07%. The business had revenue of $167.80 million during the quarter, compared to analysts’ expectations of $167.00 million. During the same period in the previous year, the company posted ($0.06) earnings per share. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. Analysts anticipate that NeoGenomics, Inc. will post -0.17 earnings per share for the current year.

Insider Activity

In other NeoGenomics news, General Counsel Alicia C. Olivo sold 5,175 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $15.36, for a total value of $79,488.00. Following the transaction, the general counsel now directly owns 37,129 shares of the company’s stock, valued at $570,301.44. This trade represents a 12.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.30% of the company’s stock.

NeoGenomics Profile

NeoGenomics, Inc operates a network of cancer-focused testing laboratories in the United States and the United Kingdom. It operates through Clinical Services and Advanced Diagnostics segments. The company offers testing services to hospitals, academic centers, pathologists, oncologists, clinicians, pharmaceutical companies, and clinical laboratories.